Engineering firm Aker Solutions (OSLO: AKSO) is predicting a 30% surge in revenues for 2022 as it capitalises on “record high” tendering activity.
In its outlook for the year, the Oslo-listed firm said tendering is at NOK 105 billion (£8.6bn) and the company will be “selective in its approach”.
In oil and gas, Aker Solutions expects to see “multiple years of spending growth” from clients dealing with energy security, meaning the company can capitalise near-term and for longer-term changes in the energy markets.
In renewables, management said there is a need to change frameworks the industry operates in as these are “not sustainable for the longer term”.
Greater focus is needed to “increase predictability and improve risk-reward balance in the industry”.
Elsewhere Aker Solutions recruited more than 1,000 employees globally during the first half of 2022, and is on track of its target of 2,000 for the year.
Pre-tax income for the second quarter of 2022 totalled 420 million NOK (£34.6m) up from 37 million NOK (£3m) in the same period last year.
Aker Solutions reported revenues of 10.6bn NOK (£874m), compared to seven billion NOK (£577m) in Q2 2021.
Shares in the Oslo-listed firm are trading at 27.54 NOK.
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